BAKU, Azerbaijan, February 13. Investments from
Serbia in Azerbaijan’s non-oil sector have reached approximately $
$10 million, Azerbaijan’s Finance Minister Sahil Babayev said,
Trend
reports.
Speaking at a reception marking Serbia’s Statehood Day and Armed
Forces Day, Babayev noted that Azerbaijan’s imports from Serbia
increased by 55%, while bilateral trade turnover reached $135
million in 2025.
“We are confident that through joint efforts,
Azerbaijani-Serbian trade relations will continue to expand.
Cooperation in the field of investment is also growing. Investments
from Serbia directed to Azerbaijan’s non-oil sector have reached
approximately $10 million,” he said.
The minister highlighted that to date, 57 bilateral legal
documents have been signed between Azerbaijan and Serbia.
“The strategic nature of our ties is largely defined by the
sincere relations established between President of the Republic of
Azerbaijan Ilham Aliyev and President of the Republic of Serbia
Aleksandar Vučić. In particular, I would like to note the
Declaration on Strategic Partnership signed in 2013, the Joint
Action Plan adopted in 2018, and the establishment of the Strategic
Partnership Council in 2022,” he said.
Babayev emphasized that in recent years, cooperation between the
two countries has expanded across a broad range of areas, including
trade, investment, energy, industry, transport, agriculture, social
policy, culture, and humanitarian sectors. He noted that the growth
of Serbian investments mainly directed to Azerbaijan’s non-oil
sector, as well as the increase in investments by the State Oil
Fund of Azerbaijan in Serbia’s financial instruments, clearly
demonstrate the strengthening of mutual trust and partnership
between the two countries.
Particular emphasis was placed on cooperation in the energy
sector. It was noted that Azerbaijan is a reliable partner
contributing to strengthening Serbia’s energy security. The
minister also positively assessed the expansion of cooperation in
transport and logistics, including transit transportation. It was
stressed that in 2025, the volume of transit shipments increased
compared to the previous year. The launch of direct Belgrade-Baku
flights from 2026 will further intensify economic, tourism, and
humanitarian ties.
The minister also underscored the important role of the
Intergovernmental Joint Commission in advancing Azerbaijani-Serbian
cooperation. It was reported that the ninth meeting of the
commission, held in October 2025 in Belgrade, was significant for
bilateral relations. The protocol signed following the meeting
covered specific areas, including trade and investment, energy and
industry, and transport and logistics, as well as contacts between
business circles.
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